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Shanghai Spot Zinc Market Slackens on Month-end Cash Crunch, SMM Reports
Jun 1, 2017 16:33Source:SMM
Spot trading in Shanghai market was slack on May 30 due to month-end liquidity crunch and soft demand, SMM reported.
SHANGHAI, Jun. 1 (SMM) - Spot trading in Shanghai market was slack on May 30 due to month-end liquidity crunch and soft demand, SMM reported.
Downstream buyers mainly worked through inventories built before the Chinese Dragon Boat Festival during May 28-30. Traders purchased modestly and sold actively. They have yet to execute term orders, and some were still on holiday.
Lead-Zinc Mines, Smelters in Hunan Return to Production after Environmental Protection, SMM Reports
Zinc smelters sold proactively. When combined with influx of imported zinc, goods available increased.
Tianjin for the First Time Finds Short-Weight in Zinc Concentrate Imported from Africa
#0 zinc was traded at 22,850-23,000 yuan per tonne on Wednesday, 50-170 yuan per tonne above June zinc on the SHFE, with spot premiums narrowing 30 yuan per tonne.
#1 zinc traded at 22,800-22,850 yuan per tonne.
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